Neural Propulsion Systems (NPS), a Pleasanton, CA-based software-defined radar, secured $17.5 million in Series B funding.
SaaS Investors
The round was led by Cota Capital, with participation from GM Ventures and RTX Ventures.
Founded in 2015, Cota Capital is a technology investment firm based in San Francisco, California. The firm prefers to invest in early- to growth-stage U.S.-based companies operating in the AI-led Cognitive Supercycle across the enterprise technology sectors.
NPS Use of Funds
The company will use the funds to further develop and apply its Atomic Sensing Platform to automotive radar technology.
About Neural Propulsion Systems (NPS)
Founded in 2017, Neural Propulsion Systems is an artificial intelligence (AI) company that develops digital imaging radar technology. The company offers a multi-modal sensor system that has better detection reliability, is simultaneous and multi-band, and includes sensor-data processing on a network of tightly connected custom signal processing chips. The NPS Atomic Sensing Platform for the automotive market is powered by the patented Atomic Norm Tensor Processing Software to achieve disruptively high resolution, precision, and reliability. NPS ANTP radar SW performance is based on a new mathematical framework, the Atomic Norm, that transforms how sensor data is processed and understood.
Funding Details
Company: Neural Propulsion Systems, Inc.
Raised: $17.5M
Round: Series B
Funding Month: February 2024
Lead Investors: Cota Capital
Additional Investors: GM Ventures and RTX Ventures
Company Website: https://nps.ai/
Software Category: Imaging Radar
Source: https://www.prnewswire.com/news-releases/nps-completes-17-5m-series-b-funding-for-software-defined-radar-led-by-cota-capital-with-key-strategic-investment-from-gm-ventures-and-rtx-ventures-302082398.html